Apollo Energy publishes a daily energy market analysis, focusing on the gas, power and oil markets including a commentary on how the markets close and open. Our analysis provides insight on how the markets are performing and also considers various factors which could dictate price changes in the future.
The analysis also contains a graph which tracks the one-year forward price of both gas and electricity as well as changes to Brent crude oil.
Gas contracts shed from their price on Tuesday, continuing to follow the broader energy complex and falling equity markets, resulting in talk of a possible recession. Losses were not as significant as previous sessions but an expected rise in demand today offered additional support to the prompt.
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US futures saw their worst day of trading since 1987, impacting markets across the world. Jet fuel and gasoline prices fell below the cost of crude production and this heavily weighed on energy markets, with carbon seeing the largest loss. This resulted in losses across the gas curve, with supply fundamentals having minimal impact.
Gas prices showed only minor changes during Friday’s session as the slide on global markets halted somewhat. However, further weakening can be expected this week with more and more preventative measure set to be implemented across the world.
European equity markets saw some of the biggest single day drops on record yesterday, transferring to commodity markets. Brent, coal and carbon all displayed strong losses which pressured down longer dated gas contracts, although the near-curve found some support from a healthy supply outlook.